COLOGNE (dpa-AFX) - German Cloud and ICT provider QSC AG (QSCGF) reported Monday that its first-half consolidated net income improved to 1.3 million euros from 1.1 million euros one year earlier.
Operating earnings or EBIT for the period rose to 4.6 million euros from prior year's 4.4 million euros last year. EBITDA came to 18.2 million euros, as against 20.2 million euros in the previous year's period.
Revenues grew to 186.2 million euros from prior year's 175.9 million euros in the previous year's period. Cloud revenues went up 36% to 15.6 million euros.
For the financial year, QSC still plans to generate EBITDA of between 35 million euros and 40 million euros. The company now expects its full-year revenues at least to reach the upper end of the 345 million euros to 355 million euros range announced earlier.
CEO Jürgen Hermann said, 'We now expect the spin-off of our TC business into a standalone subsidiary to provide added momentum.'
In future, QSC will be pooling its TC business at its wholly-owned subsidiary Plusnet GmbH.
Copyright RTT News/dpa-AFX